revenue $39.0M, net income -$44.7M. PacBio names new CEO, cuts 8% of workforce

Filed August 6, 2026 · Period ending June 30, 2026 · Compared to 10-Q Aug 7, 2025 · ~2 min read

Key Changes

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  Mark Van Oene appointed CEO effective August 5, 2026, replacing Christian Henry (who remains on the board). Third restructuring in two years announced July 2026: 8% workforce cut (~40 employees), targeting $30-40M annualized opex savings by end-2027.

  MD&A: CEO transition & restructuring verify on EDGAR →
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  Two patent-infringement lawsuits (PGI, Take2/CUHK) and related China proceedings closed. PGI settlement: $23M total ($8M paid Q2 2026, $5M annually 2027-2029, plus up to $2M contingent on 2026 revenue). Take2/CUHK resolved via $50M asset purchase from CUHK.

  Legal Proceedings & Notes verify on EDGAR →
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  Sold short-read DNA sequencing assets to Illumina for $50M gross ($48.1M net), generating $45.8M gain. Waived $25M Apton contingent milestone for $1.9M. Company now focused exclusively on HiFi long-read sequencing.

  Notes: Asset Sale verify on EDGAR →